DBRS Ltd. has assigned CIBC Mellon Trust Co. a short-term deposit rating of R-1 (middle) and long-term debt rating of AA (low), both with stable trends, CIBC Mellon said Monday.

“We are pleased with this superior rating and CIBC Mellon remains well-capitalized with a strong tier 1 capital ratio,” says Thomas MacMillan, president and CEO, CIBC Mellon Trust Co. “This along with our proven risk management procedures and strong governance have allowed us to remain well positioned and to deliver exceptional client service. Although we have no plans to issue debt under the short-term rating, this second rating satisfies client demand that we be double rated.”

Moody’s Investors Service had previously assigned an issuer rating Aa2 to CIBC Mellon Trust Co. in July 2008, citing the company’s excellent standing in its primary Canadian asset servicing and issuer services market.

CIBC Mellon is 50-50 jointly owned by CIBC and The Bank of New York Mellon Corp.

IE